There will undoubtedly be a lot of these kinds of questions out there, so I'll just answer them know and save the kind patrons here the time of replying all the many million times.

This is a two disc set that features the original OOT games with slight shading adjustments and the improved Master Quest version that adds more dungeons and whatnot.

It is only obtainable (For now) by way of pre-ordering The Wind Waker at your local store.

Wind Waker comes out March 25th, but OOT Master Quest can be picked up by way of your pre-order ticket (If one is given out) on Febuary 18th. It will be free, but Wind Waker will not be.

Check your store for more information, such as prices, exact dates, and if they honor this deal. Bigger game store chains will be more likely to carry it than smaller shops, but once again, ask.

We can only assume that it's a direct port and that a million save files will not be available. Little to no news is known of the extras in Master Quest.

To get the fire arrows, shoot an arrow... Oh wait, wrong area...

This is expected to fall horribly out of date very soon, but I'll still keep it up, as even more people will discover this deal then... A bit too late... ^_-